We are committed to developing a stabile Florida Commercial Property insurance product and offer various options for all perils and windstorm exposures.
Our property facilities add depth and strength to our products whether written package or monoline basis as a valuable complement to our other lines of business. All carriers AM Best A-Rated or better supported by the highest rated reinsurance in the insurance industry.
Targeting Related Coverage
- Miscellaneous items (awnings, bleachers,
fences, bailees, electronic data processing
systems, pumps and canopies, etc.)
- Building
- Business Personal Property
- Business Income and Extra Expense
- Premises Inland Marine
(e.g., accounts receivable, valuable papers,
signs, etc., and property related coverage.
- Vacant Property and Builders Risk
- Miscellaneous Scheduled Property
Our markets have access to excellent facultative reinsurance to provide additional capacity. We strive for twenty-four (24) hour turn-around time on quotes when complete underwriting information is received and have dedicated resources ready to respond to agent submissions that require additional information.
Risk Types and Profiles
- Tenant Occupied Habitational
- Hotels, Motels, AirBNB
- Apartment Buildings
- Condominiums (Residential, Commercial)
- Health and Assisted Living Facilities
- Retail, Mercantile
- Manufacturing, Distribution
- Storage, Warehousing
- Restaurants, Hospitality and related
commercial exposures
Market leading Wind Deductible Buy-Back (DBB) product. Click-Here for information.
Vacant buildings undergoing renovation or remodeling. Coverage may be written for a 3, 6, or 12 month term and renewed up to 18 months.
Bailees may provide coverage for property of others that the insured is legally liable for in the insured’s care, custody or control, at a designated premises. A bailee is a person or party to whom goods are delivered for a purpose without transfer of ownership.
Typical risk profiles are:
Dry Cleaners
Laundries
Tailors
Upholsterers
Business Income Coverage on a coinsurance percentage or monthly limitation basis. The limit is based on net income and continuing normal operating expenses including payroll. Continuing expenses can include taxes on the land, interest debt, non-cancelable contracts for heat, lights etc. It is imperative that the proper value be determined. Contact us for assistance in determining the property Business Income Limit.
Extra Expense coverage is designed to pay for costs that exceed normal operating expenses. Avoid or minimize the interruption of business by continuing business operation, whether at the described premises or elsewhere; or minimize the interruption of business if the insured cannot continue business operations.
Coverage under this form applies in the same manner and with the same general options as in the personal property coverage form, except for considerations given to the unique nature of condominium bylaws and their coverage requirements.
Coverage only applies to unit-owners of commercial businesses, including vacation rental operations, and does not duplicate coverage purchased by the condominium association. Therefore, the Condo declarations and bylaws must be examined to determine if fixtures, improvements and betterments should be covered by the association or by the unit-owner.
Personal property inside of a
named insureds’ unit
Personal property of others in the
care, custody, control of the unit-owner
Personal property outside the unit
within 100 feet
Deductible Options
Loss Assessment Coverage
Miscellaneous Real Property Coverage
In addition to the physical loss or damage to property after a fire, windstorm or other disaster, an insured is often left with debris to be cleared (sometimes at considerable expense) before the property can be used. An insured should consider debris removal costs in establishing limits of insurance on covered property. The insured may need to contact construction or demolition firms for estimates of the probable costs of clearing the site in the event of a worst-case scenario.
Electronic Data Processing Systems - Commercial Property for small Electronic Data Processing (EDP) systems is available only when written in conjunction with other property coverage (Building or Business Personal Property. The covered causes of loss may include changes in electrical supply or power surge if within 1,000 feet and may remove exclusions for artificially generated electrical current and mechanical breakdown. The form may add additional coverages for Extra Expense and Fire Protection Equipment.
Verify:
Auxiliary power is available in case of power failure
Controls are in place to prevent power fluctuations or momentary interruptions
Data is routinely backed up and secured so it can be recovered in case of damage to the main system
Commercial Property forms cover losses to boilers and machinery, or other property, only when caused by covered causes of loss. The forms may not cover machinery or equipment including business equipment, air conditioning, refrigeration, boilers or pressure vessels when the loss is caused by an uninsured or excluded cause of loss.
Equipment Breakdown coverage may protect the equipment, machinery and systems that run the businesses we insure.
It may pay for damage caused by electrical current or arcing, mechanical breakdown including rupture or bursting caused by centrifugal force, explosion of steam boilers, engines, pipes or turbines that are owned or leased which are operated under the insured’s control, loss or damage to hot water boilers or other heating equipment, or loss or damage to steam boilers, engines, pipes or turbines caused by any condition or occurrence within such boiler or equipment.
If your customer depends on any one of the below systems or equipment, they may have a need for equipment breakdown coverage. Contact us for more information.
Air Conditioning or Refrigeration
Any other mechanical or electrical system or equipment located in the building and used in the insured's business
Boilers
Commercial Cleaning Equipment
Computer Systems
Counters, meat or produce storage equipment
Foundry or Smelting Equipment
Freezers
Heating Systems
Manufacturing Equipment
Printing Presses
Pressure Vessels
Refrigeration equipment, including coolers
Spinning or Weaving Machinery
Telephone Systems
Inflation guard acts to increase the limit of insurance for the property to which it applies, automatically and continuously, throughout the policy year by the stipulated percentage of the initial coverage limit. It is intended to assist the insured in maintaining adequate property insurance limits in times of inflation or for insureds in industries characterized by rapid property value increases.
For such insureds, inflation guard may lessen the need for constant monitoring of property insurance limits. Contact us for information.
May respond to losses that result from enforcement of ordinances or laws regulating demolition and/or restoration of a building following physical damage to that building by a covered cause of loss. In a situation where the underlying property damage losses were caused by covered and excluded causes of loss, loss payment for ordinance or law coverages may be proportioned accordingly.
The severity of building codes affected is essential when evaluating the acceptability of a risk. The insured will need to determine what percent of damage the city ordinance requires for a partially damaged building to be demolished.
Spoilage of perishable stock may be provided by endorsement. This form extends Business Personal Property coverage to insure against direct physical loss or damage by the Covered Cause of Loss, either Breakdown or Contamination or Power Outage. This coverage is available only when written in conjunction with BPP coverage.
Requires a formal maintenance and inspection program and a contingency plan for loss of power or refrigeration. Better risks have a loss of refrigeration alarm and / or a back up power supply. Refrigeration Maintenance Agreement (may be a requirement for coverage).
Property in transit is available for Business Personal Property owned by the insured while in transit. Coverage is available only when written in conjunction with Business Personal Property (BPP) coverage.
Designate which location(s) for Property in Transit to apply and the Cause of Loss form which applies for the Business Personal Property for that designated location also applies to the Property in Transit.
Verify:
Vehicle is enclosed and designed to transport such property
Vehicle will be kept locked when unattended
Property will not be left in unattended vehicle overnight
Utility Services - Direct Damage may add coverage for damage to the insured's property resulting from an interruption of any of the utility services identified by endorsement schedule as covered.
Utility Services - Time Element may add coverage for this loss exposure. This endorsement extends the business income and/or extra expense coverage provided by the policy to cover loss resulting from direct physical loss or damage from a covered cause of the type(s) of utility service property indicated in the endorsement schedule
Warehousemen's Bailees Customers Goods - Commercial Property Coverage is available for warehouse operations desiring coverage for damage to property of others in the insureds care, custody or control while at the designated premises and for which the insured is legally liable. Warehousemen’s coverage is not intended for insureds who perform work on goods held for storage, but instead, covers goods that are only being held for storage. For coverage on goods the insured is holding for processing, refer to Bailees Customers Goods.
Florida Commercial Property including Windstorm or Hail coverage for eligible risks. Our Commercial Property team can consider fast, accurate terms and an optional buy-back policy your current windstorm deductible.
Firestone Agency of Florida, Inc.
Wholesale Insurance Brokers | MGA
Boca Raton, Florida
International Plaza
7280 West Palmetto Park Road
Suite 106-N
Boca Raton, FL 33433
Call Us (954) 341-8331
Ponte Vedra, Florida
Valley Ridge Professional Park
4210 Valley Ridge Blvd
Suite 127
Ponte Vedra, FL 32081
Call Us (800) 683-1150